With schools and nurseries closed during the lockdown, consumers bought more toys to entertain their children, such as dolls and accessories and model vehicles. There was also increased expenditure on games and puzzles as these proved popular among families stuck at home and wanting to pass the time.
Licensing remains a key driver of growth in traditional toys and games with popular franchises encouraging both children and adults to buy licensed products. For example, Hasbro looked to build on the popularity of Transformers and Back to The Future to develop licenced toys that transform the DeLorean car and merge the popular aspects of both movies.
While LOL Surprise! was the standout performer within dolls and accessories in 2020, Barbie also saw double-digit growth supported by a revamp of the brand’s image. Recognising the strong interest in diversity and racial justice the brand looked to make its products relevant, having suffered for a long-time from perceptions of its products promoting unrealistic body shapes and largely white dolls.
Traditional toys and games continues to see strong growth in 2021 with COVID-19 continuing to limit consumer movements outside the home and thus driving demand for ‘hometainment’. Nevertheless, with half the population vaccinated as of August the country is moving towards a period of normalisation.
The digital transformation of playtime was already well on the way prior to COVID-19, supported by fast growing adoption of technology and smart devices as well as improving internet coverage. As such, new product development is likely to increasingly focus on blending the physical and digital worlds, using technology such as augmented reality to capture the imagination of children.
Coming off the back of the success of Barbie’s revamped image, it is likely that other players will look to follow suit. More products which are seen to address issues such as LGTQ+ rights, racial equality, and people with disabilities are likely to appear in the market, while marketing is also likely to place a heavier focus on diversity and inclusion.
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